Happy hump day!
Late Monday night a story broke about SoftBank investing $3.9 billion into some of the world’s largest tech companies. As first reported by Bloomberg, SoftBank has put large stakes into Amazon ($1.04 billion), Alphabet ($475 million), Netflix ($189 million) and other household names.
It’s certainly a pivot for SoftBank, led by Japanese billionaire Masayoshi Son. Traditionally, the Japanese conglomerate has, for better or worse, looked to invest in private startups.
So what does it mean that SoftBank has adopted the same trading strategy as your average Robinhood trader? It’s not fully clear yet, but it’s still interesting to see Son make such a big push into the public markets.
Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco.
The red-hot IPO market
Initial public offerings are back in full swing after a slight hiatus as volatility rocked the markets earlier this year.
Meghan Morris highlighted eight high-profile startups eyeing the public markets, along with great background details on the companies.
This year, obviously, has been anything but normal, so it will be interesting to see how many actually end up getting listed. So far, 2020 has been the year of the SPAC, so it’ll be nice to see companies with actual revenues make their public debuts.
Click here to read the full story on the hottest up-and-coming IPOs.
Wealth firms are losing talent and up to 20% of business because of gaps in their tech, exclusive data shows. Here’s what they can do to improve.
Financial advisors are desperate for better technology. Rebecca Ungarino has exclusive data based on a recent survey that shows FAs are fed up with subpar tech, and willing to switch firms to find better solutions.
How 7 lawyers landed jobs as general counsel at fintechs like Lemonade, Toast, and Stash — and their advice for thriving at a startup
Being general counsel at a fintech is a lot like being the only adult in the room. While everyone is having fun “moving fast and breaking things,” you are responsible for making sure things are compliant. Yoonji Han spoke to lawyers at seven fintechs to get a sense of what it is like and how they landed their gigs.
Odd lots:
After CalPERS Investment Chief’s Abrupt Departure, Trustees Talk Next Steps (NYT)
Renewed Focus on Race Triggers Surge of Interest in Community-Based Lenders (WSJ)
I ate all 18 Blizzards at Dairy Queen and ranked the flavors from worst to best (Insider)
Join the conversation about this story »
NOW WATCH: Why thoroughbred horse semen is the world’s most expensive liquid
